NAIROBI, Kenya Dec 8 – Detectives from the Directorate of Criminal Investigations (DCI) have arrested Steve Odek, alias David Bett, for scamming a foreign national Sh33 million in a fake gold deal involving over 500kg of counterfeit gold.
Odek, a suspected fraudster, was apprehended by detectives from the Operations Support Unit.
According to the DCI, the victim entered into two separate agreements with Odek to purchase gold, with the first deal on February 6, 2024, for 500kg at Sh5 million per kilogram, and the second on March 14, 2024, for another 580kg under similar terms.
“Additionally, the detectives have established that the second contract was signed after the first deal failed, where the scammer promised to deliver the gold only after securing certain conditions, which included the buyer’s responsibility for jet chartering, payment of taxes, and insurance,” the DCI stated.
Despite the conditions, Odek failed to deliver the promised gold. To maintain the scam, he provided 20kg of ‘gold bars’ as collateral, which were stored at MySafe Vault.
“The victim remained unaware that he was being scammed and ended up paying a total of Sh33 million through two law firms; Owano and Associates Advocates and Alata and Co. Advocates,” the DCI added.
After receiving the money, Odek attempted to defraud the victim of an additional Sh24 million.
However, his fraudulent scheme was exposed, leading to a police report and subsequent investigation.
“Detectives recovered the 20kg of ‘gold’ that had been provided as collateral. A thorough analysis revealed that the bars were composed of copper, zinc, and tin, with no trace of gold but just a well-executed scam,” the DCI confirmed.
Further investigations revealed that the company associated with Odek, PCL Natural Resources Limited, was not licensed by the Ministry of Mining to deal with gold or any other precious metals.
“With this crucial information, the detectives were able to track down Odek, who was arrested and processed earlier today pending arraignment,” the DCI concluded.
Source: capitalfm
